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Wednesday, 24 August 2016

Transparency Market Research presents a new research report on the global human biobanking ownership market for the 2016-2024 period. The report analyzes demand dynamics and growth opportunities that will influence growth of this market during the aforementioned forecast period. The complete analysis of the development of the global human biobanking ownership market is presented in the report, titled “Human Biobanking Ownership Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

Biobanks play an important role in biomedical research for storing a wide range of biospecimens. These include plasma, blood, saliva, and purified DNA to name a few. Biobanks usually compile specimens based on genetic and other traits such as gender, age, ethnicity, and blood type.

The genetic data collated by human biobanks is useful for scientists to understand genetic diseases and the impact of environmental and genetic factors on these diseases. The extensive pool of specimens collected in biobanks based on age, gender, education, and lifestyle are crucial for researchers to understand disease indications. These factors are contributing to the growth of the global human biobanking ownership market.

However, the high cost factor of collecting and preserving specimens is inhibiting the growth of this market. Due to the high cost and tedious nature of genome sequencing, government-owned biobanks usually outsource these processes to research organizations. Furthermore, concerns about security of genetic data in human biobanks is also hampering the growth of this market.

To safeguard genetic information of individuals and to establish rights of gene donors, the global market for human biobanking ownership will be governed by laws in the future. For example, in Estonia, according to the Human Genes Research Act implemented in 1999, donors have full control over who can access their information to safeguard anonymity of individuals in clinical research.

Asia Pacific is a significant market for human biobanking ownership due to the rapid emergence of private biobanks and clinical research organizations in this region. North America and Europe are also significant markets for human biobanking ownership due to the increasing trend of DNA collection for clinical research in these regions. For example, in Estonia, the national biobank program that commenced in 2000 collected DNA samples of 25% of the country’s population. These DNA samples are not only meant for clinical research, but this data will also be used to develop a robust healthcare system.